How a Prenuptial Contract Can Provide Security

A prenuptial agreement is an insurance policy against the

breakup of your impending marriage. It should be viewed the

same if you were taking out life insurance or income

protection. It is made with the aim of both parties

protecting their personal assets and thus protecting

themselves and their loved ones.

In order to be valid a prenup agreement must be formed

before the wedding. It is also advisable it is signed no

later than 21 days to the wedding, lest it be decreed by the

courts that one of the couple was “forced” to sign while

under duress.

The concept of the prenup is that it protects the assets

that the couple took individually into the relationship.

This offers security to those who may have taken the biggest

amount of wealth and property into relationship. Where

without a prenup the assets would be split 50/50 between the

two parties, with a prenup the party bringing in most the

assets would then retain those assets.

Any assets acquired during the marriage will also be

accounted if the event of a divorce. The prenup can state

that those producing the largest amount of wealth can hold

onto it if the marriage ends.

A prenuptial agreement can also consider any children that

the parties bring into the marriage at the start. The

prenuptial contract can decide which of the children gets

what should the couple divorce.

While the prenuptial contract does have offer a large degree

of security as to the protection of assets following a

divorce, strictly speaking, they are not enforceable under

English law. Nevertheless, looking at the recent publicised

case of Radmacher, it shows that although unenforceable, the

English courts are considering the content of a prenup more

and more. Because of this legal uncertainty it is essential

that prenups are drawn up correctly in order not to be

thrown out by the courts.

Although there is no strict legal requirement that a

prenuptial agreement be drafted by solicitor it is strongly

advisable. An experienced solicitor will use proper drafting

techniques to ensure that the agreement has been drawn up

properly and therefore lessen the chances that one party can

challenge it at a later date. The will make sure that the

agreement follows the purpose for which it was intended –

provide the added security of protected personal assets in

the event of a divorce.

About the Author:

Tim Bishop is senior partner at Bonallack & Bishop, a firm of

solicitors who deal with UK Prenuptial Contracts

( ). If you need some

help and advice about making a UK pre-nuptial contract then

contact one of their experienced lawyers today. Tim is

responsible for all major strategic decisions, seeing

himself as a businessman who owns a law firm. Tim has

expanded the firm by 1000% in 13 years and has plans for its

continued development.

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